The British Virgin Islands International Tax Authority issued a release on 27 March concerning economic substance requirements during the COVID-19 pandemic. --- Update on Economic Substance During Covid-19 Pandemic The International Tax Authority has provided further particulars that are to be borne in mind with respect to Economic Substance following the press release issued by the International Tax Authority (ITA) on March 18: where possible, recourse should be had to the appointment of alternate directors in the BVI in order to meet substance requirements; all directors do not have to attend Board meetings in the BVI - only as many...